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Search Results 0 to 16 of about 17 (some duplicates have been removed)
people who call me, they're more worried about the fiscal cliff than about rates going up a couple of points. thomas rooney in your party, if there is truly entitlement reforms that's going to preserve social security and medicare for generations to come, it's going to be very difficult for me to oppose higher rates for the rich. what about that? >> and to mr. rooney's point, if in fact there were fundamental, significant reform of medicare, medicaid and social security so that we in fact save and strengthen and secure those programs, just like we did in our budget,those were included in the president's proposal, then that's something that we would talk about and very seriously consider because there's where we got to get. we got to get real solutions. the problem with the president's proposal is it's not a real solution, it's all politics. >> congressman tom price, thank you for coming on the program. >> we've been talking about the president's advantage right now. so, karl rove was not about to sit on the sidelines. his crossroads gps is running a spot today criticizing the presi
to the country's credit rating in the new year. each day toward the fiscal cliff is also another day closer to the country maxing out on its borrowing limit. president obama talked to business leaders today. >> the only thing that the debt ceiling is good for as a weapon is to destroy your credit rating. >> reporter: he's worried republicans may re newsto raise the country's debt ceiling to get their way on spending cuts and risk defaulting on the country's loans. >> that is a bad strategy for america. it's a bad strategy for your businesses. and it is not a game that i will play. >> reporter: republicans are pushing back. >> he's the president, not the emperorer. >> reporter: fiscal cliff negotiations have been at a stand still since monday when republicans proposed raising revenue by closing tax loopholes, not by raising rates on the rich as the president has insisted. >> we're not insisting rates just out of spite, but rather because we need to raise a certain amount of revenue. >> we can't just keep borrowing money, raising taxes, and expecting the problem to go away. >> reporter: house
to see us go over the fiscal cliff. we have got to get serious. we do not want to increase tax rates. we want to do something about the spending problem. remember, the goodwill -- the speaker put revenue on the table just after the election. he said, we get it. the president won his reelection and we won our be election. here is our proposal to the president that we were unwilling to give during that negotiation talks last year. >> they know that you put revenue on the table. will you pull back from them and give them some spending cuts question mark -- cuts? >> this is not a game. we are not interested in playing rope a dope. we do not want to see taxes go up on anybody. we want to engage in tax reform and get the economy going. we are not playing a game. that offer yesterday was simply not serious. thank you. >> next, house minority leader nancy pelosi talks to reporters about the so-called the school cliff negotiations. she urged house republican leadership to bring legislation to the floor regarding middle- class tax cuts. this is about 20 minutes. >> good afternoon. i'm here today w
and egypt as we take it up with the a-team. the so-called fiscal cliff is really all about the obama ultimate may tum. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. lou: president's ultimatum and his insistence on higher taxes may take us over the cliff. chris and steven next. the next scott walker? michigan's republican governor ready to do political battle with organized labor in his state. what about a right to work law? straight ahead. the boys use capital one venture miles for thr annual football trip. that's double miles you can actually use. tragically, their ddy got sacked by blackouts. but it's our tradition! that's roughing the card holder. buwith the capital one venture card you get double miles you can actually use. [ cheering ] any flight, anytime. the scoreboard doesn't lie. what's in your wallet? hut! i have me on my fantasy team. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is no
, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> and that is the important phrase there, prepared to go off the cliff if there is no agreement on raising those rates. we're going to get to that in a minute. utah republican senator orrin hatch fired back and said, quote this, is one of the most stunning and irresponsible statements i've heard in some time. the american people want us to find a reasonable path forward not to rattle our sabers and play this dangerous game. of course, both sides are playing games. they are rattling their sabers. house members streamed out of the capitol and headed out of town wednesday after canceling today's session. they insist nothing will get done until the president makes a counteroffer to what they say is their full fledged proposal for monday. >> the revenues we're putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes, and have the same peop
are willing to make sure we don't go over this fiscal cliff but at the same time don't harm this economy. what has to happen here if the president shows a little leadership we are willing to stay in the room and stay here and we are willing to get this done. that's why you saw a proposal that is raoeubl reasonable that meets his criteria. >> reporter: steny hoyer said in the next few days we will see substantive movement in private to get this done. jenna: we'll continue to watch the play-by-play, mike, thank you. jon: right now we are continuing to await a speech by former president george w. bush, the speakers are taking to the podium there to get ready to introduce the former president. he is set to address a conference there in dallas, where he will spotlight the positive impact of immigration on u.s. economic growth. this as the g.o.p. looks to attract more hiss to the party. meantime mr. bush's father, former president george h.w. bush is spending another day in the hospital being treated for bronchitis and a lingering cough. we told you about that last week when we first found out that
fall off the fiscal cliff, dividends will be taxed at ordinary income rates so your rate on your investments is going to go up depending on your tax bracket, that means 15%, 28%, 31%, 36% or 39.6%. so the rate on your investment income could be more than double what it is right now for middle and high income earners. other companies that have paid out their dividends early, walmart, costco, dillard's -- >> so they are preparing for this? >> oh, yes. they're getting the money out early so their investors don't pay higher taxes on it. >> what is the one thing we need to know about our money today? >> ho, ho, ho, december has been the best month for stocks over the past 30 years. december has been the santa claus rally they call it. when investors square their portfolios, they close out their positions, could the fiscal cliff talks in washington kill santa claus? another reason to be mad at your policymakers. december should be a good month. it historically is. >> all right, thank you. 27 minutes past the hour. every time you send a text message it could soon be recorded. it could a
to for the individual taxpayer if we do go off the fiscal cliff? guest: if we go off the cliff, the rate will go up to 39.6%. the low bracket will go away and the lowest tax bracket will be 15% if we go off the cliff. 15% to 39.6% if we go off the cliff. caller: what about the other rates? host: we have a question on twitter. host: we have a question on twitter. guest: you don't pay taxes on losses. if you're making profits and a picture up over $250,000, that could result in a tax increase that kicks you over $250,000. caller: we need jobs in this country. i hear all this money being talked. the average worker -- i am lucky i get 30 hours. they're cutting down to 20 hours at wal-mart. i had a good manager. thank god. i notice a woman comes in. she is a high-end lady. she says we can get anybody to work. you talk about the tax credits. most of us have no chance of getting anything like that. we only make enough money to survive. a lot of us get food stamps. i never thought in my life. this is too low republicans and democrats. fascism and communism, it was always party first. that's what our count
as lawmakers try to reach a deal to avoid the so called fiscal cliff in january. treasury secretary tim geithner tells cnbc republicans have made a little progress, but the obama administration is "absolutely ready to go over the cliff if the gop doesn't agree to raise tax rates on wealthy americans." apple has lost a bit of its shine. the tech giant stock suffering its worst day in four years on thursday. several factors may have been at play. investors worried apple may be giving up ground in the tablet market to rivals, while nokia beat the company to the punch. there are also unconfirmed reports a stock clearinghouse firm is reducing the margin requirements on apple stock. apple lost $35 billion in market value yesterday. to put that into perspective, there are 417 companies listed on the s&p 500 index that have a market cap below $35 billion, so the jimmer fredet the majority of the s&p is valued at just below what apple lost yesterday. >>> a fairfax county woman will have to remove parts of her negative online review of a home contractor. the ruling was made yesterday. jane perez
the fiscal cliff. some republicans are considering abandoning their staunch opposition to higher tax rates according to recent reports. alan simpson was co-chair on the commission of fiscal responsibility. he's a co-founder of fix the debt campaign and joins us now. senator simpson, good morning, it's great to see you. >> great pleasure to be off the witness protection program and come here. but what even more fun, david brubeck used to come to wyoming a great deal. he and his family, lovely people. i did not know he had passed. and to hear that music, it's iconic stuff. anyway. so it's good to sneak in and get made up, try to hide my identity. >> well, it's good to have you here. you say you're in the witness protection program because you've been out there on the issue of how we fix our national deficit. as you well know, we face the fiscal cliff, a series of tax hikes and spending cuts that many people think if they go into effect will put the country into recession. yet we heard the treasury secretary tim geithner say the president is willing to see the country go off the fiscal cliff
and the president until the fiscal cliff is avoided. unlikely, but a reflection of voter frustration as both sides dig in. the white house demanding higher tax rates for the top two tax brackets, and the republicans refusing. after rejecting the obama administration proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction, mostly through spending cuts. and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> reporter: -- a senior white house official assailed it as a step backward, saying if republicans do not agree to some higher rates for wealthier taxpayer, the nation will go over the cliff, and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck. so the lack of progress is not yet resulted in a market plunge. but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the official deadline is december 31st at midnight when the ball drops in times
in order to avoid going over the fiscal cliff? john boehner's already $800 billion in increased tax revenue, not necessarily raising the marginal tax rate on the wealthy, but capping deductions, limiting loopholes, are you with the speaker of the house on that? >> unfortunately, wolf, the policies of president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they've already paired back plans for next year anticipating what's going to happen. we can fix this christmas eve if we want, but we've already hurt the economy and job growth. >> are you with boehner? >> i'm not with boehner. this government doesn't need anymore money. this country needs less government. we're going to have historic levels of revenue to the government this year. >> everyone's taxes are going up at the end of the year if there's no deal. >> we have already offered to extend current tax rates. that's what we should have done six months ago until we could come to some agreement, some compromise on tax reform. >> when you say compromise, where are you ready to compromise as f
released his counterproposal on the fiscal cliff that grover norquist is still very much in charge of the republican party. republicans said once again that they were absolutely unwilling to raise tax rates on the wealthiest of americans. even though they were adopted in 2001 as a temporary measure only because we had a surplus. they were temporary because ten years later, we might have a surplus. we might need the money. that's exactly the situation is today. but sadly, it is not grover norquist or mitt romney or mitch mcconnell that's running the republican party. it is still a big lobbyist by the name of grover norquist. have a good one folks!
the road. not that far down the road but get into 2013, get the fiscal cliff thing behind us. why? >> i think tom coburn and the president have slightly different reasons for it. but the problem with just doing tax reform when you don't have the rates going back up is that these deductions and credits that we're going to have to go after to reform, they primarily benefit people at the top. but they also benefit middle-class families. and if you just change those then what you end up doing is raising taxes on middle-class families as well. to get the same amount of revenue. in other words, if you're trying to get a revenue target, let's say $1.6 trillion which is what the president wants. you try to do that just by reforming the code, without the rates. you don't touch the rates. the only way to do it is to get the money out of the middle class. the president doesn't want to do that and most people don't want to do that. but if you let the rates go back up, you're basically halfway to your revenue target and you can
Search Results 0 to 16 of about 17 (some duplicates have been removed)